Nvidia's market cap stands at $3.4 trillion, placing it second among all US companies, just behind Apple. It shows astounding growth with a 178% increase in the year.
Nvidia is essential to the future of AI technology, with its chips being utilized by both AI-centric companies like OpenAI, and traditional tech giants like Microsoft and Amazon seeking to integrate AI into their business models.
Future estimates for Nvidia's stock will heavily rely on Microsoft's performance, as it faces an earnings report that could impact investor perceptions of both companies, especially regarding growth in AI revenue.
For Nvidia to maintain its impressive valuation, it must deliver strong earnings on November 20, with any numbers falling short of the previous quarter's performance likely to trigger a stock decline.
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